, Stock Forum
) Tuesday announced that it has agreed to undertake a $9,809,800 non-brokered private placement with Teck Resources
), whereby Teck will subscribe for 12,740,000 common shares of Midas at a price of 77 cents per share, this according to a company news release
It is anticipated that Teck will own approximately 9.9% of Midas’ outstanding shares upon closing of the placement.
Midas Gold said it will use the funds to update the mineral resource estimate for its Golden Meadows gold-antimony-silver project in Idaho, and to complete a pre-feasibility study based upon those results.